Certain factors that could cause actual results to differ materially from those contained in the forward-looking statements are included in our periodic reports filed with SEC. Copies of these reports are available on the SEC’s website. We disclaim any obligation to update our forward-looking statements unless required by law.

To view a webcast of the presentation, access our website mtge.com and click on the earnings presentation link in the upper right corner. An archive of this presentation will be available on our website and a telephone of this call can be accessed through August 21st, by dialing 877-344-7529 using the conference ID 10015856.

Participating on today’s call are Malon Wilkus, Chairman and Chief Executive Officer; Sam Flax, Executive Vice President and Secretary; Gary Kain, President and Chief Investment Officer; Jeff Winkler, Senior Vice President and Co-Chief Investment Officer; Peter Federico, Senior Vice President and Chief Risk Officer; Chris Kuehl, Senior Vice President in Agency Mortgage Investments; Jason Campbell, Senior Vice President and Head of Asset and Liability Management; and Don Holley, Vice President and Controller. With that I will turn the call over to Gary Kain.

Gary Kain

Thanks Hannah and thanks to all of you for your interest in MTGE. We feel really good about MTGE’s performance both this quarter and since our IPO. During the quarter, MTGE was able to continue to pay an attractive dividend while growing book value for the third straight quarter. Economic returns which include both the dividend and book value growth equate to a 22% annualized return.

Since going public in August 2011, we have paid $2.80 per share in dividends and grown our book value over 10%. The combination of these two measure equates to economic returns of around 24% and it is not even been a full year. Over the same time period, MTGE has been able to grow its market cap from 200 million at the IPO to over 800 million as of today via two follow-on offerings that improved both operating efficiencies and the liquidity of the stock.

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